The Hartford Financial Services Group, Inc. (NYSE:HIG) Position Cut by National Pension Service

National Pension Service trimmed its holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG – Get Rating) by 2.4% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 554,608 shares of the insurance provider’s stock after selling 13,371 shares during the quarter. National Pension Service’s holdings in The Hartford Financial Services Group were worth $34,746,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Gradient Investments LLC bought a new position in The Hartford Financial Services Group in the 3rd quarter worth approximately $27,000. Janiczek Wealth Management LLC lifted its position in The Hartford Financial Services Group by 38.4% in the third quarter. Janiczek Wealth Management LLC now owns 588 shares of the insurance provider’s stock worth $38,000 after purchasing an additional 163 shares during the period. Larson Financial Group LLC acquired a new stake in The Hartford Financial Services Group in the third quarter worth approximately $50,000. Covestor Ltd lifted its position in The Hartford Financial Services Group by 130.8% in the first quarter. Covestor Ltd now owns 907 shares of the insurance provider’s stock worth $65,000 after purchasing an additional 514 shares during the period. Finally, Toth Financial Advisory Corp lifted its position in The Hartford Financial Services Group by 19.4% in the third quarter. Toth Financial Advisory Corp now owns 985 shares of the insurance provider’s stock worth $61,000 after purchasing an additional 160 shares during the period. 89.93% of the stock is owned by institutional investors.

The Hartford Financial Services Group Price Performance

HIG opened at $68.62 on Friday. The stock has a fifty day moving average of $75.74 and a 200-day moving average of $72.17. The firm has a market capitalization of $21.48 billion, a P/E ratio of 12.59, a PEG ratio of 1.14 and a beta of 0.87. The Hartford Financial Services Group, Inc. has a 12-month low of $60.17 and a 12-month high of $79.44. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.33.

The Hartford Financial Services Group (NYSE:HIG – Get Rating) last posted its quarterly earnings results on Friday, February 3rd. The insurance provider reported $2.31 earnings per share for the quarter, topping analysts’ consensus estimates of $1.86 by $0.45. The Hartford Financial Services Group had a net margin of 8.12% and a return on equity of 18.15%. The business had revenue of $6.02 billion for the quarter, compared to the consensus estimate of $5.74 billion. During the same period in the prior year, the business posted $2.02 earnings per share. The Hartford Financial Services Group’s revenue for the quarter was up 3.4% compared to the same quarter last year. Equities analysts forecast that The Hartford Financial Services Group, Inc. will post 8.35 EPS for the current fiscal year.

The Hartford Financial Services Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 4th. Stockholders of record on Monday, March 6th will be paid a $0.425 dividend. This represents a $1.70 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date is Friday, March 3rd. The Hartford Financial Services Group’s dividend payout ratio (DPR) is presently 31.19%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on HIG. Royal Bank of Canada upped their target price on The Hartford Financial Services Group from $75.00 to $77.00 and gave the stock a “sector perform” rating in a research report on Monday, February 6th. Wells Fargo & Company increased their price objective on The Hartford Financial Services Group from $85.00 to $88.00 and gave the company an “overweight” rating in a research report on Wednesday, January 18th. Piper Sandler increased their price objective on The Hartford Financial Services Group from $83.00 to $96.00 and gave the company an “overweight” rating in a research report on Monday, February 6th. Citigroup increased their price objective on The Hartford Financial Services Group from $90.00 to $92.00 and gave the company a “buy” rating in a research report on Wednesday, February 8th. Finally, BMO Capital Markets assumed coverage on The Hartford Financial Services Group in a research report on Thursday, January 19th. They set a “market perform” rating and a $77.00 price objective for the company. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $86.00.

Insider Transactions at The Hartford Financial Services Group

In other news, EVP Amy Stepnowski sold 336 shares of the company’s stock in a transaction on Monday, March 6th. The shares were sold at an average price of $77.59, for a total value of $26,070.24. Following the transaction, the executive vice president now directly owns 3,844 shares of the company’s stock, valued at $298,255.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other The Hartford Financial Services Group news, EVP Amy Stepnowski sold 336 shares of the stock in a transaction on Monday, March 6th. The shares were sold at an average price of $77.59, for a total transaction of $26,070.24. Following the transaction, the executive vice president now directly owns 3,844 shares of the company’s stock, valued at $298,255.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Beth Ann Costello sold 38,915 shares of the stock in a transaction on Wednesday, March 1st. The stock was sold at an average price of $77.85, for a total transaction of $3,029,532.75. Following the transaction, the chief financial officer now directly owns 57,205 shares in the company, valued at $4,453,409.25. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 101,167 shares of company stock valued at $7,872,898. 1.80% of the stock is owned by insiders.

About The Hartford Financial Services Group

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The Hartford Financial Services Group, Inc is an insurance and financial services company. It operates through the following segments: Commercial Lines, Personal Lines, Property & Casualty Other Operations, Group Benefits, Hartford Funds, and Corporate. The Commercial Lines segment provides workers’ compensation, property, automobile, liability and umbrella coverage under several different products.